The price ceiling for the First Home scheme has increased by €25,000 in Cavan and Monaghan to €375,000.
The counties in the Northern Sound Region are among 17 local authorites across Ireland to benefit from the extension, allowing buyers in both counties to benefit from the scheme.
The changes, which took effect from 1 January, increase the price ceiling in Cavan and Monaghan by €25,000 to €375,000.
The First Home Scheme supports first-time buyers in bridging the gap between their mortgage, deposit, and the price of a new home.
Fianna Fáil TD Brendan Smith has welcomed the news, saying that more buyers can now "realistically access home ownership".
The scheme operates between the State and participating lenders, currently AIB, Bank of Ireland, and PTSB, with scope for additional authorised mortgage lenders to join.
Speaking to Northern Sound, Deputy Smith said that the scheme is important for people building, and purchasing their own home.
Deputy Smith said: "If a person is in a position to build their own homes, often parents or family land, they may have a site accessible to them.
"That can lower the cost of building the home, or providing a new home. It's important this is available for people building their own home, or purchasing their home or apartment," he added.
